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How do you plan on disposing of your collection?
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Gold Card Talk Member
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Even slightly more recent movies, which had some cards, have probably faded in terms of interest.

I am thinking of the "Twilight" franchise, and the "Hunger Games" films, for example.

I see the Walmart exclusive "Hunger Games" packs of 24 cards, unsold on ebay for $ 3 or less. Frown

This message has been edited. Last edited by: David R,
 
Posts: 4069 | Location: Bayonne, NJ, USA | Registered: May 06, 2001Reply With QuoteReport This Post
Platinum Card Talk Member
Picture of Raven
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It becomes a double whammy. There is little new interest in product from older titles, movies or TV, and those that were/are interested have already acquired all but the rarest or most expensive bits.

Notice I said rarest or most expensive, not rarest and most expensive, as rarity guarantees nothing when only the experts care about certain cards or even know they exist.

It's funny, but since I discovered how little the majority of my autograph card collection is worth in real sale terms, I'm a lot less concerned with how I or anyone else will dispose of it. Big Grin
 
Posts: 6696 | Location: New York | Registered: November 20, 2007Reply With QuoteReport This Post
Titanium Card Talk Member
Picture of wolfie
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quote:
Originally posted by Raven:

It's funny, but since I discovered how little the majority of my autograph card collection is worth in real sale terms, I'm a lot less concerned with how I or anyone else will dispose of it. Big Grin



A lot of people, collectors and dealers, are going to find this out in due course if they don't know it already.

____________________
Come, it is time for you to keep your appointment with The Wicker Man.
 
Posts: 27530 | Location: wolverhampton staffs uk | Registered: July 19, 2002Reply With QuoteReport This Post
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quote:
Originally posted by hammer:
The cards I have in my collection will stay with me until I don't know what they are and by then I won't care won't happens to them Big Grin


That was my approach too, but now that I'm getting ancient, family who would be handling my estate are asking me for plans, and no "heirs" are particularly interested. Trouble is, within the junk are some items that have value. I'd like to find a situation where I can have them box them all up and ship them to somebody knowledgeable, who would rummage through the boxes, pick out the items worth keeping or selling, take a nice cut of proceeds, and donate the balance to charity. It would pain my ghost to see the $500 autos trashed together with the base card singles I accumulated when we were breaking boxes and trading. Got lots of complete sets that might be suitable for consignment if they don't all get dumped on the market at the same time.
 
Posts: 2255 | Location: North Augusta, SC, USA | Registered: November 28, 2002Reply With QuoteReport This Post
Contest Czar
Picture of barobehere
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quote:
Originally posted by allender:
quote:
Originally posted by hammer:
The cards I have in my collection will stay with me until I don't know what they are and by then I won't care won't happens to them Big Grin


That was my approach too, but now that I'm getting ancient, family who would be handling my estate are asking me for plans, and no "heirs" are particularly interested. Trouble is, within the junk are some items that have value. I'd like to find a situation where I can have them box them all up and ship them to somebody knowledgeable, who would rummage through the boxes, pick out the items worth keeping or selling, take a nice cut of proceeds, and donate the balance to charity. It would pain my ghost to see the $500 autos trashed together with the base card singles I accumulated when we were breaking boxes and trading. Got lots of complete sets that might be suitable for consignment if they don't all get dumped on the market at the same time.


Personally I hope to see you around into your early 100's, Jeff, but I will volunteer to be the eyes of the Allender collection when that day comes in 3 or 4 decades if I am still around too!
 
Posts: 5450 | Location: Meridian, Mississippi | Registered: November 23, 2001Reply With QuoteReport This Post
Gold Card Talk Member
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Jeff -- obvious question, but why don't you go through your collection and pull out all the high dollar items and either sell them now, or set them aside?

Sadly I've had to deal with a number of family estates in the last few years, and it has really been eye opening. The items that surviving family members want get lovingly cared for, everything else turns into a burden for the people who are managing the estate.
 
Posts: 4064 | Location: Parts Unknown. | Registered: January 25, 2001Reply With QuoteReport This Post
Diamond Card Talk Member
Picture of hammer
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quote:
Originally posted by allender:
quote:
Originally posted by hammer:
The cards I have in my collection will stay with me until I don't know what they are and by then I won't care won't happens to them Big Grin


That was my approach too, but now that I'm getting ancient, family who would be handling my estate are asking me for plans, and no "heirs" are particularly interested. Trouble is, within the junk are some items that have value. I'd like to find a situation where I can have them box them all up and ship them to somebody knowledgeable, who would rummage through the boxes, pick out the items worth keeping or selling, take a nice cut of proceeds, and donate the balance to charity. It would pain my ghost to see the $500 autos trashed together with the base card singles I accumulated when we were breaking boxes and trading. Got lots of complete sets that might be suitable for consignment if they don't all get dumped on the market at the same time.


I know what you are saying Jeff, but is the value there for much stuff of last 20 years. I see things that I have paid good money for and there are 10/15 on ebay at prices I wish I had paid! Also there are high value sketch cards on ebay at $300/$400 that are from sets 10 years old - if people aren't paying these amounts they are not worth the price. If you have $500 auto's sort them out into a "Sell" folder so people know.
 
Posts: 11549 | Location: England | Registered: September 16, 2003Reply With QuoteReport This Post
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quote:
Originally posted by barobehere:
quote:
Originally posted by allender:
quote:
Originally posted by hammer:
The cards I have in my collection will stay with me until I don't know what they are and by then I won't care won't happens to them Big Grin


That was my approach too, but now that I'm getting ancient, family who would be handling my estate are asking me for plans, and no "heirs" are particularly interested. Trouble is, within the junk are some items that have value. I'd like to find a situation where I can have them box them all up and ship them to somebody knowledgeable, who would rummage through the boxes, pick out the items worth keeping or selling, take a nice cut of proceeds, and donate the balance to charity. It would pain my ghost to see the $500 autos trashed together with the base card singles I accumulated when we were breaking boxes and trading. Got lots of complete sets that might be suitable for consignment if they don't all get dumped on the market at the same time.


Personally I hope to see you around into your early 100's, Jeff, but I will volunteer to be the eyes of the Allender collection when that day comes in 3 or 4 decades if I am still around too!




A fellow collector of military antiques did just what Jeff has suggested. He selected a fellow collector to work with his wife to sell his large French Foreign Legion collection. They agreed to a 50/50 split, and the widow has made out well ahead of where she would have been if the agreement had not been in place. It has been well over a year and he is still working on selling the collection, but it is bringing in money for the family on an ongoing basis. I think people find it difficult to plan for such an event.
 
Posts: 23 | Location: Ohio | Registered: January 15, 2008Reply With QuoteReport This Post
Platinum Card Talk Member
Picture of Raven
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quote:
Originally posted by allender:
That was my approach too, but now that I'm getting ancient, family who would be handling my estate are asking me for plans, and no "heirs" are particularly interested.


To be perfectly honest, I think I might have a few choice words for those people. Big Grin It's one thing to start getting rid of your cards because you have lost interest in certain subjects, or you need more space, or you could use a little money, or your whole attitude about collecting has just changed. It's one thing to do it for yourself and quite another to do it to make it easier for someone else who isn't interested enough to just sit down and take instructions.

If you are a life long card collector, why shouldn't it stay life long? Wink

What I have been doing for my own benefit is making room by clearing out old common in-person sports autograph cards. There is virtually no market value in them now anyway and more importantly, I don't care about them anymore. Giving that kind of bulk to a dealer is the fastest way to move it, but any cards of value should be kept behind.

It is a great idea to go through your collection now and make a list of those items of value. You don't have to start disposing of anything until you're ready. Tell people where they can find the list and don't worry so much if they have to do some work themselves. That's what an Executor is for. Big Grin
 
Posts: 6696 | Location: New York | Registered: November 20, 2007Reply With QuoteReport This Post
Gold Card Talk Member
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quote:
Originally posted by Raven:
To be perfectly honest, I think I might have a few choice words for those people.


Speaking from a place of experience it is extremely difficult to try to learn a new hobby in order to dispose of someone else's collection.

I thought that leaving my collection would be a windfall for someone. . . Until I had to help deal with someone else's collection. The items are rarely as easy to sell as people think they would be, they rarely sell for what people think they'd sell for, it's difficult often to understand the hobby and know if you are getting a fair price (i.e. swatch variations, inscriptions, parallels, etc), the selling costs are generally higher than you expect them to be, and then there are the normal issues with shipping, returns, scammers, etc.

There may be dealers or consignors who can manage this, but that all should be set up and laid out ahead of time.

My philosophy is that you either care about what happens with your stuff enough that you manage it yourself or don't worry about it.
 
Posts: 4064 | Location: Parts Unknown. | Registered: January 25, 2001Reply With QuoteReport This Post
Platinum Card Talk Member
Picture of Raven
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You left off the Big Grin on my "few choice words" comment. It's like, don't bother me. I ain't going nowhere. Wink

Seriously, collections of any kind are very personal, whether they have any monetary value or not. For cards, we may all like to think we have a windfall, but then we try to sell a few ourselves and reality sets in for the average collector. The larger the collection, the more common cards you have. The older the collection, the more the demand has subsided on most cards. That's not to say there isn't true value there, just probably not as much as you think in real sales and probably nowhere near the cost of the total amount that you paid out, especially if its over years and years.

I get the impression that Estate sales and clean out buyers are so popular now because dealers and consignors are very picky and the family, like you said, knows nothing about it. Professionals don't even want to look at average collections. They don't think its worth their time unless there are certain high dollar items. Only other collectors would truly be interested in looking, but not necessarily paying a lot either.

So yeah I wouldn't disagree with you. Manage it yourself beforehand or don't worry about what happens to it. I think if you can do a little of both you will probably be better off. Smile
 
Posts: 6696 | Location: New York | Registered: November 20, 2007Reply With QuoteReport This Post



Gold Card Talk Member
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Sorry, my point wasn't to pick on what you said, I was just trying to point out how difficult it is when this sort of responsibility is put on you.
 
Posts: 4064 | Location: Parts Unknown. | Registered: January 25, 2001Reply With QuoteReport This Post
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Does anyone know the tax implications of selling inherited property?

I did about 2 minutes of googling (ie. I know nothing on the topic) and it seems that assuming the inheritance wasn't taxable selling property that is inherited also isn't taxable -- unless the property appreciates in value between when it is inherited and when it is sold.

No clue how that applies if the property inherited loses value (can you claim a loss?). . .

Also, determining value at the time of inheriting can be dicey especially items that don't sell often. Should you come up with a value at the time of in inheriting so you can sell later and not worry about tax implications? What would be an appropriate proof of value?

Of course if you are selling the items yourself you have some of these same concerns, so it seems that there could be some tax benefits to passing a collection on rather than selling it yourself.

Interesting.
 
Posts: 4064 | Location: Parts Unknown. | Registered: January 25, 2001Reply With QuoteReport This Post
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Guess there are no tax accountants or lawyers on the forum, or they don't want to give advice for free. Big Grin

All I can tell you is that the 2018 deduction has doubled and you can now exclude $11,180,000 of assets from a taxable Estate. That would cover just about everybody except the richest. If the Estate has debts as well as assets, or if there are a number of beneficiaries, or if it has significant real property or real estate, getting legal advice is always in order.

Card collections would probably be the least of it. Wink
 
Posts: 6696 | Location: New York | Registered: November 20, 2007Reply With QuoteReport This Post
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quote:
Originally posted by Raven:
Guess there are no tax accountants or lawyers on the forum, or they don't want to give advice for free. Big Grin

All I can tell you is that the 2018 deduction has doubled and you can now exclude $11,180,000 of assets from a taxable Estate. That would cover just about everybody except the richest. If the Estate has debts as well as assets, or if there are a number of beneficiaries, or if it has significant real property or real estate, getting legal advice is always in order.

Card collections would probably be the least of it. Wink

Aw, you're trying to tell me that my card collection is probably worth less than $12 million?

I have other assets for the typical inheritors, and wouldn't worry about $ go into the estate - more like finding a "loving" set of hands to go through a collection where the bulk is low value, picking out the gems and sellable things like full sets at $3-$10 a shot or higher or mini-master sets, and after deducting a fee for the "lover," to donate the balance to charity. There's a small number of items that have real value, even today. At the very least I should find a collector or consignment shop that is prearranged to accept a large shipment of partly unsorted stuff (including a couple of hundred 4-inch binders holding multiple sets each with autos and sketches arranged with their sets, and boxes of completed sets). Some of it has been in storage lockers for a few years and if I ever get the house renovated to give a better display/storage arrangement, I can do hammer's sorting and list-making when I bring them back in. But I'm not sure whether I will get around to the project before I'm hit by a truck. I even have dozens of action figures I received as holiday gifts, bought cheap I'm sure, where I don't have a clue whether any have value.

So thanks for all of the advice and ruminations. Webjon makes me wonder whether I should check through things I've bought over the years and try to add up "losses". But his other point that it should be set up ahead of time would get people off my back about "what am I going to do if he kicks off". And Raven, I do consider it "life long"! And barobehere, you live close enough where I could transfer the keys to the storage lockers, but you don't really live up to your moniker "timetoletgo". Big Grin
 
Posts: 2255 | Location: North Augusta, SC, USA | Registered: November 28, 2002Reply With QuoteReport This Post
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Picture of barobehere
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quote:
Originally posted by allender:
And barobehere, you live close enough where I could transfer the keys to the storage lockers, but you don't really live up to your moniker "timetoletgo". Big Grin


Holy Smokes! You recognized on Ebay that I am one of about 4 card collectors in Mississippi! When I made that ebay account I really was planning on selling more and buying less. Just never works out that way!!
 
Posts: 5450 | Location: Meridian, Mississippi | Registered: November 23, 2001Reply With QuoteReport This Post
Platinum Card Talk Member
Picture of Raven
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quote:
Originally posted by allender:
quote:
Originally posted by Raven:
Card collections would probably be the least of it. Wink


Aw, you're trying to tell me that my card collection is probably worth less than $12 million?


Nope. I thought I had gathered a lot of junk over the years, but I don't have any storage lockers. Wink

It's no wonder your family wants you to start now. Big Grin I'm jealous. Smile
 
Posts: 6696 | Location: New York | Registered: November 20, 2007Reply With QuoteReport This Post
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